• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Teleflex announces Street-beating Q1, restructuring plans

Teleflex announces Street-beating Q1, restructuring plans

April 29, 2021 By Chris Newmarker

TeleflexTeleflex (NYSE:TFX) today posted first-quarter results that beat the Wall Street consensus forecast and announced business streamlining plans for 2021.

The Wayne, Pa.–based maker of critical care and surgical products reported earnings of $74.9 million, or $1.58 per share, off sales of $633.9 million for the quarter ended March 31, 2021, for a –43% bottom-line drop on top-line growth of 0.5%.

Adjusted to exclude one-time items, earnings per share were $2.87, 45¢ ahead of The Street, where analysts were looking EPS of $2.42 on sales of $626.25 million.

“The first quarter of 2021 was a strong start to the year for Teleflex, one in which we exceeded our expectations for revenue, led by the performance of the Americas and Asia,” Teleflex CEO Liam Kelly said in a news release.

“In addition to strong first-quarter top-line performance, we generated the highest adjusted gross and operating margins since becoming a pure-play medical device company, resulting in an adjusted earnings per share amount of $2.87, which also exceeded expectations,” Kelly added.

Teleflex announced that it is committed to a restructuring plan to streamline business functions across segments. Expected aggregate pre-tax restructuring charges are in the $7–$9 million range, consisting primarily of termination benefits. There will be an additional $4 million in restructuring-related charges, mostly recognized in cost of sales. Teleflex expects to complete the restructuring by the end of 2021, with annual pre-tax savings of $13–$16 million after implementation.

A Teleflex spokesperson did not immediately answer a request for comment on how the restructuring will affect headcount.

The company raised its full-year 2021 GAAP revenue growth estimates from 10.0% and 11.5% to a range of between 10.5% and 11.75% over the year prior. It raised its full-year revenue growth estimates from 8.0% and 9.5% to 8.5% and 9.75% over 2020.

Shares in TFX were down -4.89% to $422.13 apiece in mid-morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, is down slightly.

Filed Under: Business/Financial News, Featured, Wall Street Beat Tagged With: Teleflex

More recent news

  • Johnson & Johnson MedTech launches new Volt plating systems for radius, humerus
  • PharmaSens, SiBionics collab on all-in-one insulin patch pump
  • Beta Bionics to pair iLet automated insulin delivery system with Abbott’s dual glucose-ketone sensor
  • Anaconda Biomed wins CE mark for funnel catheter
  • FDA approves Neuspera neuromod for urinary incontinence

About Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at [email protected].

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy